NEW DELH: Indian textile firms failed to weave free quota fortunes. Of the domestic textile companies 47 per cent say they have not benefited from free trade. A survey by YarnsandFibres reveals.
37 per cent of the firms had not experienced any change in their businesses during the year. Another 10 per cent had worse experience during the first quota-free year.
While a few companies have been unable to take advantage of the opportunities, others have had bad experience as they have had no direct relation with global trade.
The unhappy textile companies also accused inadequate infrastructure of impeding them in making use of the opportunities.
The survey on the textile industry, was done for the January-March quarter and was the fourth within a year.
Almost 55 per cent of the responding textile companies have had a good experience and saw their orders increasing in the year.
The outlook is positive with 75 per cent of the Indian textile companies. They hope their performance would be better in the January-March 2006 quarter.
The remaining 25 per cent believe that their performance would remain unchanged compared to the preceding quarter.
India is clearly distant second and faces intense competition from countries such as Pakistan, Bangladesh and Sri Lanka.
